LEWISVILLE, Ark. (AP) — A company that manufactures products for the oil and gas industry plans to purchase a closed plant in Lafayette County and reopen it with about 30 employees.
Economic development officials in Lewsville announced Wednesday that A-Pak-Co LLC will buy the empty Falcon Products building and begin operations by September.
A-Pak-Co owner Frank Lofton told the Texarkana Gazette (http://bit.ly/wd4yn6) that he hopes to take advantage of an expected drilling boom for oil and gas in the area.
The company manufactures equipment to hold and mix chemicals during oil and gas drilling.
Blake Harrell with the Southwest Arkansas Planning and Development District said the Arkansas Economic Development Commission has agreed to provide a $570,000 loan and $67,100 grant to purchase and renovate the building.